FAQs
Frequently Asked Questions
Here are some questions that we are often asked, together with some answers....
You've dreamed of being your own boss, having your own business, and setting your own working hours. It seemed out of reach because you don’t know where to start. We make it easy, why not call and arrange for a free consultation with one of our knowledgeable accountants that will simply talk you through what you need to do and get you started on the right direction.
You will be able to take full advantage of our years of experience as we prepare your business plan and thoroughly research and apply for accessible grants.
What is a Limited Company?
To become Limited is to effectively set up your business so that it has an entity of its own. You, as a director will still have full control of the business and for some, trading via a Limited Company can have huge rewards.
What are the benefits?
Above all the advantage of becoming Limited is the limited liability bestowed upon the company's officers and shareholders. This means that as long as the business is operated legally and within the terms of the Companies Act, directors or shareholders personal assets are not at risk in the event of a winding up or receivership.
Other benefits include tax relieves for some and a corporate image.
This is not to say that becoming Limited is for everyone, becoming Limited suits some business sectors more than others and you are more restricted in what you can and can not do.
Laud Meredith & Co will meticulously consider whether becoming Limited is the best decision for you to make and will regularly review your circumstances.
How hard is it to become limited?
It’s easy! We can take care of all your future accounting needs as a Limited company, setting out guidelines for you to follow and making sure you’re making the most out of your situation.
Take a quick look at this link which will easily navigate you through the important dates that you need to keep track of.
You may have to register if your sales are over £68,000 for the last 12 months or are like to in the following 12 months; otherwise you may be able to register voluntarily.
